Vienna hosted European Utility Week, one of the biggest utility conferences in the world, from 3 to 5 November 2015. This year’s edition saw a big increase in the number of companies attending from sectors outside the energy industry. Increasingly, however, these companies show people how to easily produce, store, and introduce renewable energy to the power grid. I saw all sorts of exciting startups coming out the woodwork. For instance, I saw companies from both the telecom and automobile industries sharing insight on how they see the industry evolving and how their unique expertise can help solve future issues.It is becoming abundantly clear that we are about to see big changes in the energy industry.
We closely follow how technologies like the Internet of Things, mobile,gamification and social media are evolving. Alongside these exciting technological innovations, we are seeing disruptive business models within the energy industry which harness the power of big data, digitalization and the cloud.
And we are part of this change. Utilytics, launched at the European Utility Week, is a groundbreaking business solution which is leading the charge for increased transparency in the energy industry. The solution is about making all the data you need available in real-time. I like to say that Utilytics is to the energy industry what Salesforce is to business development.
It is vital to understand how the new energy consumer works if we are to cope with the changes underway in the energy industry..
First, we need to make the customer our number one priority. We need to understand their behavior and capabilities. And we need to give them more choice. Second, we need to figure out the best way to radically reduce costs. We can do so by giving customers the transparency and increased access to information they desire. Utilytics does this by helping the customer see exactly how their energy bill is evolving. Third, we need to work together to build a future where customers are more energy and emissions conscious. This means reducing energy waste and ensuring both consumers and prosumers can use renewable energy effectively. Perhaps a significant increase in energy efficiency could be as impactful as finding a new source of energy?
Energy is more than a commodity in today’s world of environmentally-conscious customers. It is now a product and a lifestyle. We need to collaborate and draw inspiration from other industry partners... Innovation cannot happen in isolation. It must include partners whose complementary skills make it possible to test ideas, go to market, adjust those ideas and scale them appropriately.
We need to turn best practice into next practice.